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Where can I learn more about Price Action like those in James16 charts? 9 replies

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james16 Chart Thread

  • #113,081
  • Jun 12, 2012 6:22pm Jun 12, 2012 6:22pm
Quoting mtc235
Hi everybody, I've been reading all over this thread for a while. Decided it's time to post a trade. All comments are welcome.



Do I have to upload an image to somewhere else before I can embed it, as I did this time for this chart?
Thanks,
MTC
Quoting 5.25
Nice MTC , welcome to the thread.

I executed the very same trade. Consolidation, pull back, retest and entry. Trading into space. I've already locked in some profits. Can't post a chart as yet.

Nice break to the down side huh?

T


You nailed it, MTC .. well done . .
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Indicators show the past. Price Action "Indicates" the future.
  • #113,082
  • Jun 12, 2012 6:23pm Jun 12, 2012 6:23pm
NZD/USD seems to be winding up strong.
Plenty of Divergence as we head towards the weekly Gap open HCR and the 0.7800.
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  • #113,083
  • Jun 12, 2012 6:27pm Jun 12, 2012 6:27pm
Quoting Pinbar
NZD/USD seems to be winding up strong.
Plenty of Divergence as we head towards the weekly Gap open HCR and the 0.7800.
That was a nice trade on the Nzdusd from yesterday . .Weekly level hitting Weekly target .. . .its how we roll . .
Indicators show the past. Price Action "Indicates" the future.
  • #113,084
  • Jun 12, 2012 6:30pm Jun 12, 2012 6:30pm
Quoting jarroo
You nailed it, MTC .. well done . .
Quoting mtc235
Hi everybody, I've been reading all over this thread for a while. Decided it's time to post a trade. All comments are welcome...
Looks like Jarroo already beat me to it MTC. I did like this trade. Consolidation areas play a major part in my trading. AUDNZD continues to be a good example.
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  • #113,085
  • Jun 12, 2012 6:33pm Jun 12, 2012 6:33pm
Quoting jarroo
That was a nice trade on the Nzdusd from yesterday . .Weekly level hitting Weekly target .. . .its how we roll . .
Thanks
All due to your relentless efforts Jim.
  • #113,086
  • Edited 7:16pm Jun 12, 2012 6:37pm | Edited 7:16pm
Quoting 5.25
I love the metals
Quoting beebolbod
copper had nice H4 pinbar yesterday

yum yum.
A good example why I love gold, PPZ's are so well respected. First time back entry at 1616.68. If you squint, you might just see the draw down.

Best to wait for PA confirmation for anyone starting out.
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  • #113,087
  • Jun 12, 2012 6:38pm Jun 12, 2012 6:38pm
Quoting 5.25
Looks like Jarroo already beat me to it MTC. I did like this trade. Consolidation areas play a major part in my trading. AUDNZD continues to be a good example.
You got to love those 5.25 charts . .very nice, T. .
Indicators show the past. Price Action "Indicates" the future.
  • #113,088
  • Jun 12, 2012 6:39pm Jun 12, 2012 6:39pm
Quoting Pinbar
Thanks
All due to your relentless efforts Jim.
Thanks, Steve.
Indicators show the past. Price Action "Indicates" the future.
  • #113,089
  • Edited 7:25pm Jun 12, 2012 6:44pm | Edited 7:25pm
Quoting gadogado
hi sir...

nice AU.. hit target perfectly...

I also took entry at the first HCR 0.9915, got out for loss 26pips...

Re-entry at the second deepest one, now it already in profit.
I see gado . .I think we have different chart feeds . .or something

I'll show you when I respond to the talk about the GbpAud . .
Indicators show the past. Price Action "Indicates" the future.
  • #113,090
  • Edited 7:44pm Jun 12, 2012 7:22pm | Edited 7:44pm
Quoting Chanya
Guidance plz
Quoting gadogado
hi sir... I just give my point of view as a newbie follower jarroo method.

If you go down to Lower TF then you can see that there are chance to entry and the entry sometimes work well but it sometimes not work well. I'm sorry for my poor english.

The GbpAud is a very similar occurence as with the recent EurGbp that you posted, Chanya.

When Price initially arrives at our HCR/LCS levels they will act very well to the levels and their immiediate targets. . .but more often then not, you only see this on the lower TF . . . best illustarated by gado's Hourly chart on the GbpAud. ..

. but as Price moves forward or gathers around the level . .(the yellow area on my charts) . .consolidation starts to build and traffic around the level(s) gathers. Thus making the level less effective.



gado . .I notice from your Hourly chart that we have the same level (1.5647-46) yet on June 7th Price hit my level as Resistance (red arrow) and not yours???!! . .I know our feeds are different but not our level . . ??? weird.
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Indicators show the past. Price Action "Indicates" the future.
  • #113,091
  • Jun 12, 2012 7:50pm Jun 12, 2012 7:50pm
Quoting Chanya
Such an awesome trade setup I missed !!!

Look at the confluence that was present ....

Quoting Chanya
Eur Aud
Now you're getting it Chanya . .

Jim



. . ."I've been down since I began to crawl . . ." ..
Indicators show the past. Price Action "Indicates" the future.
  • #113,092
  • Jun 12, 2012 7:51pm Jun 12, 2012 7:51pm
Quoting jarroo
Now you're getting it Chanya . .

Jim



. . ."I've been down since I began to crawl . . ." ..
. . . (Chanya's signature)


Inserted Video
Indicators show the past. Price Action "Indicates" the future.
  • #113,093
  • Jun 12, 2012 8:56pm Jun 12, 2012 8:56pm
Quoting 5.25
A good example why I love gold, PPZ's are so well respected. First time back entry at 1616.68. If you squint, you might just see the draw down.

Best to wait for PA confirmation for anyone starting out.
Hi 5.25,
Trying to understand ur entry better...why did u chose to enter at the top end of the pink zone rather than bottom end when it first approach the pink zone? Thks
  • #113,094
  • Jun 12, 2012 10:18pm Jun 12, 2012 10:18pm
Quoting nwo-trader
Here is something I am watching on the GBPUSD, also there was an inside bar that formed last week.
Newbie alert: Yes but a lot of noise around the 1.566. Not much room in my opinion.
  • #113,095
  • Jun 12, 2012 10:46pm Jun 12, 2012 10:46pm
This may be way stupid new guy for most of you, but I cant figure out how to send a image through PM, so I am gonna post it on here and hope for the best.

I observed the pinbar around a BRN and attempted to trade with the trend. It appears to now being just moving sideways, which clearly means it was not a trade I should of been taking in the first place. The arrow is on the next bar because I entered on a retrace of the pinbar, instead of a break of the bar in an attempt to reduce my SL

I am only using the basic James16 stuff, and I am new at it. Any help will be appreciated.


Thanks,
TT.
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The only error in the J16 trading system is operator error.
  • #113,096
  • Edited 11:17pm Jun 12, 2012 10:54pm | Edited 11:17pm
Quoting TradingTexan
This may be way stupid new guy for most of you, but I cant figure out how to send a image through PM, so I am gonna post it on here and hope for the best.

I observed the pinbar around a BRN and attempted to trade with the trend. It appears to now being just moving sideways, which clearly means it was not a trade I should of been taking in the first place. The arrow is on the next bar because I entered on a retrace of the pinbar, instead of a break of the bar in an attempt to reduce my SL

I am only using the basic James16 stuff, and I am...

Hey TT

You can't send images through PMs, unless attached to the PM through another site(like imageshack)

The problem with that bar is confluence. There just is not anything to support it. If you look before that bar we have a VERY strong bullish movement and then you get a smaller pinbar(with a short tail). This is a bar that gets new traders in trouble. Because it fits the criteria of a pinbar(which it's good to see you recognize), but we want to ask ourselves what is the confluence(or story/reason why it should work).

I am glad to see you looking for good PA at swing points though, so that's a good starting spot. But what you want to do next is look for confluence with these bars.

Let me know if that makes sense or you need some examples
Mike

Edit* also a BRN is every 500 pips so in the case of the aud/cad that would be 1.0000 1.0500 etc. That was off a LRN(large round number of 1.0200)
  • #113,097
  • Jun 12, 2012 11:01pm Jun 12, 2012 11:01pm
Quoting jarroo
. . . (Chanya's signature)


http://www.youtube.com/watch?v=f1pzXJuvdAY
I am born the very same year the Song was released.... does that mean I am under a bad sign? lol... just joking. At the very least it shows Chanya's age
  • #113,098
  • Jun 12, 2012 11:16pm Jun 12, 2012 11:16pm
Gents, are you up to discuss Indicators a bit? What are you using if any?

I am using the PositionSizeCalculator to help me with my mm in % and the Tick-Value Indi which shows me the spread conveniently on the chart. Other than that I am using the alligator (EMA'S) with the default setting just to give me a broader picture of trend action. Tried MACD and others but I don't understand them and they confuse me.

Also I tried a few S/R Indicators before but didn't find one I really liked. Is there one which can be recommended? Could help with drawing those PPZ's.
Also recently I bumped into the James16 Indi which I plot when I do expect some price action around PPZ's. I don't keep it on the chart though and I feel it makes me lazy to look for patterns myself. There are a few other price action Indies around which I tried but I don't like the colorful dots they plot. Distracting.

What is your opinion and what are you using? Please also let me know if you want me to attach one of the Indies mentioned above.
  • #113,099
  • Jun 12, 2012 11:23pm Jun 12, 2012 11:23pm
Quoting jarroo
gado . .I notice from your Hourly chart that we have the same level (1.5647-46) yet on June 7th Price hit my level as Resistance (red arrow) and not yours???!! . .I know our feeds are different but not our level . . ??? weird.
It's very weird, sir... My high at that candle is 1.5642, I guess it's different approx 5-6 pips with yours, sir. But as long as your method work well for the most time then this different can be understandable. And it opens my mind to look for another broker...
  • #113,100
  • Jun 12, 2012 11:23pm Jun 12, 2012 11:23pm
Quoting ricosta
Gents, are you up to discuss Indicators a bit? What are you using if any?

I am using the PositionSizeCalculator to help me with my mm in % and the Tick-Value Indi which shows me the spread conveniently on the chart. Other than that I am using the alligator (EMA'S) with the default setting just to give me a broader picture of trend action. Tried MACD and others but I don't understand them and they confuse me.

Also I tried a few S/R Indicators before but didn't find one I really liked. Is there one which can be recommended? Could help with...
Hey Rico

I think you are right that it prevents really learning and understanding these concepts. I have seen many indicators come and go trying to do it but the best is to learn and see and UNDERSTAND the things we are using. Time spent doing that will help you improve the most in the long term

Best
Mike
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